Most of Asian equity benchmarks traded higher in early deals on Tuesday, as the market sentiments got bolstered with the peaking US treasury yields and a positive outlook ahead of US earnings season and release of key inflation data. Asian indices climbed with the banks and financial firms begin reporting first-quarter earnings. Even though spiking covid cases world wide and concerns over the possible restrictions on economic activity in several markets limited some gains. Japan’s Nikkei advanced with the gains across all sectors as the government enhances their response to tackle the surging coronavirus cases. Among the Asian markets, Japan, Singapore, Hong Kong, Taiwan, and South Korea are trading higher. Bucking the trend, Indonesia, China, and Malaysia are in lower note.
Nikkei 225 up by 241.55 points or 0.82% to 29,780.28, Straits Times increased 6.79 points or 0.21% to 3,180.72, Hang Seng rose by 274.25 points or 0.96% to 28,727.53, KOSPI Index hiked by 29.95 points or 0.96% to 3,165.54, and Taiwan Weighted increased 77.56 points or 0.46% to 16,937.26.
On the flip side, Jakarta Composite down by 43.09 points or 0.72% to 5,905.48, Shanghai Composite narrowed by 0.28 points or 0.01% to 3,412.67, and FTSE Bursa Malaysia KLCI lower by 7.71 points 0.48% to 1,600.71.